Crane Co

CR: XNYS (USA)
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Crane: Maintaining $143 Fair Value Estimate After Engineered Materials Sale Announcement

We are maintaining our $143 per share fair value estimate for Crane after the company announced an agreement to sell its engineered materials business to private equity firm KPS Capital Partners for $227 million. We believe the divestment makes sense from a strategic perspective, as it will further simplify Crane’s portfolio and allow management to focus on growing the two remaining core segments.

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